Mexico ends anti-dumping probe into CRC from South Korea
The Mexican government has suspended its anti-dumping investigation and the provisional duties imposed on imports of cold rolled coil (CRC) from South Korea.
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According to Mexico’s Secretariat of Economy, Posco and Hyundai Hysco have voluntarily committed to export the product at prices that are not harmful to the Mexican domestic market and will not exceed established annual shipment limits.
Products under investigation were those containing not less than 0.0008% of boron non-coated product in widths greater than 600mm and thicknesses below 3mm.
The products are classified under tariff subheadings 7209.16.01, 7209.17.01, 7209.18.01, 7225.50.02, 7225.50.03, 7225.50.04 and 7225.50.99.
Under the agreement, in 2014 Posco will be allowed to export 400,000 tonnes, with the potential for annual increases to 450,000 tonnes, then 480,000 tonnes, until 2017 and 2018 when it will be able to export 500,000 tpy.
Over the same period, after exporting 10,000 tonnes in 2014, Hyundai will be able to increase its annual exports to 15,000 tonnes, then 20,000 tonnes and 25,000 tonnes, before finally reaching 30,000 tonnes in 2018.
Any increases will have to be approved by Mexico’s Secretariat of Economy at least 30 days before shipment.
The original investigation was started in late 2012 following a request by Ternium México, with the support of the country’s biggest integrated steelmaker, Altos Hornos de México (Ahmsa).
While the investigation took place, Mexico set provisional anti-dumping duties of 60.4% on imports of CRC from Posco and other South Korean mills, and at 6.45% on CRC from Hyundai Hysco.